Investing.com - Time Warner Inc (N:TWX), the owner of cable channels CNN, HBO and Cartoon Network, reported a 6% fall in quarterly revenue, hurt by a lack of hit movie releases from Warner Bros and a strong dollar.
Total revenue fell to $7.08 billion in the fourth quarter from $7.53 billion a year earlier.
In the year-earlier quarter, the studio released hit movies such as "The Hobbit: The Battle of the Five Armies", "Interstellar" and "Annabelle".
Net income rose to $857 million, or $1.06 per share, from $718 million, or 84 cents per share, compared to expectations for profit of $1.01 per share and revenue of $7.53 billion.
The company's shares were down 5% in premarket trading on Wednesday.